Bezos sold $2.5 billion worth of Amazon stock in a week

According to Business Insider, he agreed with the Securities and Exchange Commission to sell another 2 million shares, the total value of which is currently about $6.54 billion.

Amazon founder Jeff Bezos this week sold shares of the company for a total of about $2.5 billion. This was reported on Thursday by the Business Insider portal.

According to him, during the week Bezos sold 739 thousand shares in a week, this decision was agreed in advance with the Securities and Exchange Commission (SEC). Such actions followed the publication of Amazon’s financial statements for the first quarter, according to which the company’s revenue was $108.5 billion, which exceeded the expectations of experts by $4 billion. It is noted that Bezos also agreed with the regulator the possibility of selling another 2 million shares, the total value of which is currently about $6.54 billion. In 2020, he sold $10 billion worth of Amazon stock.

As noted by CNBC, Bezos has previously stated that he will sell $1 billion worth of shares each year to support his aerospace company Blue Origin. This week, the company announced that it would send its first passenger to suborbital space on July 20.

In February, Bezos announced that he would step down as CEO of Amazon in the third quarter of 2021 and take up the position of executive chair of the board of directors, focusing mainly on charitable and scientific activities. According to Bezos, good financial performance and a stable position of the company allow him to do this. Currently, according to Forbes magazine, Bezos is the richest man in the world, despite the divorce in 2019 from his wife, who got 4% of the shares of Amazon. The fortune of the 57-year-old entrepreneur, who owns more than 10% of the company’s shares, is estimated at $180-190 billion. In addition to Amazon, he founded the private aerospace company Blue Origin and is the owner of one of the oldest newspapers in the United States, The Washington Post.

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Author: Sam Smith
Graduated from University of Oxford. Previously, he worked in various diferent news media. Currently, it is a columnist of the world news section in the Free News editors.
Function: Editor

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